Are you thinking about refinancing your existing home loan? VA Refinance loans are designed to help veterans save money by reducing their current interest rate or help them get cash back from the equity in their home. Refinancing can also help lower your monthly mortgage payment. Here at National VA loans, we want to help educate about the Refinance options available to veterans. Depending on your situation it may be time to consider some refinancing options. There are two primary choices when it comes to refinancing your VA home loan. The VA streamline refinance also known as the VA IRRRL and the VA Cash-out refinance. Both options have there pros and cons.
VA IRRRL Refinance Option
The IRRRL ( Interest Rate Reduction Refinance Loan ) is a great option for veterans that own a home and would like to refinance into a lower interest rate if available. If the opportunity is right and rates are lower than your current rate you may want to think about the VA IRRRL. The nice thing about the IRRRL is that it is a quick and easy refinance process.
VA Cash Out Refinance Option
The VA cash out refinance is another great option for veteran homeowners looking to refinance and get some cash back. The cash-out can help with things like paying off debt, helping out with college tuition, or even paying for a vacation. You can use the money from the VA cash out for anything you see fit.
VA Refinance Lenders
If you would like to speak with a licensed VA loan officer about either one of these options call now at 855-956-4040.